Manila, March 28 -- The Court of Tax Appeals (CTA) has dismissed a petition filed by the Bukidnon II Electric Cooperative, Inc. (BUSECO) questioning a PHP23.5 million income tax assessment against it handed down by the Bureau of Internal Revenue (BIR).

In a ruling dated March 25, the CTA said it has no jurisdiction to rule on the case as BUSECO "erred" in taking the case to the tax court without a final decision by revenue officials.

The petition sought to nullify a Formal Letter of Demand (FLD) and Final Assessment Notice (FAN) issued by Revenue Region No. 16 in Cagayan de Oro City on Dec. 3, 2021 for the income tax assessment of PHP23,509,690.98 for taxable year 2018.

The CTA said under the law, the tax court shall exercise jurisdict...